New Emirates regs threaten QROPS

The Emirates Security and Commodities Authority is currently drafting new rules with proposals restricting the promotion of funds in the jurisdiction without UAE central bank approval. Paul Evans, managing director of SIPP administrator Brooklands Pensions, said providers are currently skirting this restriction using QROPS which may lead to a backlash. Evans said by restricting the fund choices within some QROPS to a few select products, providers are actually promoting those investments without central bank approval. "If regulators realise that QROPS are being used in this way to ...